CIMB Group

Malaysia’s Eco World International is in the process of lining up five or six cornerstone investors for its summer listing, a source close to the deal told GlobalCapital Asia.

The Government of Malaysia flexed its muscles as one of Asia’s biggest Islamic bond issuers this week, brushing off noises over a political scandal and volatile oil prices to raise $1.5bn.

Bond investors woke up to a pair of investment grade Asian issuers on Wednesday with the government of Malaysia seeking bids for a dual-tranche wakala sukuk and BoC Aviation looking to close a conventional 10 year.

CIMB Group chairman and director Nazir Razak has taken a voluntary leave of absence pending a board review on banking activities relating to his personal account.

Sukuk investors are getting ready to welcome Malaysia's dollar offering, with the sovereign hiring four banks to organise a global roadshow.

Eco World International has obtained approval from the Securities Commission Malaysia for its IPO, which is expected to raise $500m by the middle of this year.

Bank of the Philippine Islands (BPI) is poised to make its debut in the international syndicated loan market with a $250m fundraising.

A $300m dual-tranche loan for a subsidiary of palm oil producer Golden-Agri Resources has wrapped up with just two new banks coming in.

The Republic of Indonesia’s savviness was on display this week when it broke several records with a red hot $2.5bn wakala. Not only was this the sovereign’s first dual-tranche appearance in the asset class, it was also its largest ever — achievements that were attained thanks to the country’s ability to listen to market feedback.

CIMB’s regional head of equity capital markets is understood to have tendered his resignation after more than a decade with the Malaysian lender, according to sources.

The Republic of Indonesia hit the market on Monday as it seeks to tie up a five year and a 10 year wakala — the first time the southeast Asian country has attempted a sukuk offering in two tranches.

Malaysian telecommunications group Axiata extended its credit curve this week, raising $500m from a 10 year wakala sukuk.